FinCEN virtual ‘Innovation Hours’ June 10 will allow underserved-related groups to present their AML/CFT tech innovations

An Innovation Hours Program slated June 10 by the Financial Crimes Enforcement Network (FinCEN) will allow participating firms that are founded, owned, or managed by underserved groups to present their innovative products, services, and approaches designed to enhance anti-money laundering/countering the financing of terrorism (AML/CFT) efforts and national security, the agency said.

The June 10 sessions, held virtually, will last no more than an hour. Firms must be certified under the Small Business Administration (SBA) Section 8a Business Development (BD) Program to participate, according to the agency.

In a release, the agency said it is encouraging participation in the June 10 sessions by financial technology (fintech) and regulatory technology (regtech) companies, venture capital and investment firms, and financial institutions majority founded, owned, or managed by underserved groups.

Those interested in a June 10 session should submit their requests no later than May 10 and provide applicable background about their firm’s business and innovative products. A link to registration is available on FinCEN’s Innovation Hours Program webpage.

Innovation Hours Program

FinCEN to Hold Special Monthly Innovation Hours Sessions for Underserved Groups Developing Technology to Fight Illicit Financial Activity

RR: FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts (May 24, 2019)

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